AEM vs ARIS: Correlation
Agnico Eagle Mines Limited (AEM) and Aris Mining Corporation (ARIS) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEM and ARIS?
Over the past 3 years, AEM and ARIS moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 1873.3 %².
Among the 36 assets we track against AEM, ARIS ranks #16 by 3-year correlation. The last year tells two different stories: ARIS led by 105.3 percentage points, +55.9% for AEM against +161.2% for ARIS.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AEM vs ARIS: side by side
| AEM (Agnico Eagle Mines Limited) | ARIS (Aris Mining Corporation) | |
|---|---|---|
| 1-year return | +55.9% | +161.2% |
| 5-year return | +323.8% | +482.3% |
| Volatility (ann.) | 40.9% | 56.8% |
| Beta vs S&P 500 | 0.70 | 0.93 |
| Max drawdown (3Y) | -45.8% | -41.1% |
| Market cap | $109.1B | $4.4B |
| P/E (trailing) | 18.4 | 14.7 |
| Dividend yield | 0.79% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEM | ARIS |
|---|---|---|
| 2022 | +1.1% | -39.6% |
| 2023 | +9.0% | +31.9% |
| 2024 | +46.0% | +6.5% |
| 2025 | +119.5% | +363.7% |
| 2026 | +27.6% | +31.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEM and ARIS good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between AEM and ARIS?
The AEM/ARIS correlation stands at 0.81 on a 3-year window (1 year: 0.87, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is ARIS a good diversifier for AEM?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
A reading of 0.81 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AEM correlations · ARIS correlations
